- April 10, 2017
- Posted by: CIP Journal
- Category: Citizenship
The once oldest and most popular economic citizenship in the Caribbean is on a decline!
St Kitts has received only 150 CIP applications in 2016 compared to 2000 citizenship by investment cases in 2014, according to this news report.
Many see big competition and cheaper prices in the citizenship-by-investment market from Dominica, St Lucia, Antigua, Grenada attracting clients away from St Kitts. Dominica and St Lucia donation contribution is only half the price USD 100,000 onwards, while Antigua and Grenada cost USD 200,000 under donation. St Kitts is the most expensive of all.
Another reason is, many citizenship agents in China woo and divert chinese clients coming for St Kitts to Dominica Antigua, or St Lucia. Chinese investors are the key for success of economic citizenship programs. Infact over 80% of applications for Portugal golden visa, Canada Quebec and United States EB-5 received from Chinese.
Citizenship consulting companies quote St Kitts & Nevis one time donation amount of USD 250,000 and for Antigua & Barbuda USD 200,000. It may look like Antigua is cheaper than St Kitts. What many clients dont know is, Government fee ($50,000) for main applicant is included in $250,000, where as for Antigua, you have pay extra USD 50,000 additional government fee. The bottomline is the donation amount for both the countries are the same.
The real estate investment prices are also expensive in St Kitts and Antigua which is about USD 400,000 plus various other fees. Dominica requires only USD 200,00 investment in real estate for passport, St Lucia only USD 300,000 Grenada only USD 350,000.
Nonetheless, the value of St Kitts passport just went up in rankings at par with Antigua. In 2017 Henley visa restrictions index, both St Kitts and Antigua passports rank 30th powerful passports in the world with visa free travel to 136 countries. One key difference Antigua passport has visa free access to Canada, South Africa while St Kitts passport does not. Likewise visa not required for St Kitts passport holders to travel to travel to Argentina, Israel while visa needed for Antigua passport holders.